6.2-1050 - (Effective October 1, 2010) Directors. - Virginia Statutes

§ 6.2-1050. (Effective October 1, 2010) Directors.

The affairs of every trust subsidiary incorporated under the laws of theCommonwealth shall be managed by a board of directors. The board shallconsist of not fewer than five individuals. A majority of the directors shallbe citizens of the Commonwealth. Directors need not be stockholders of thetrust subsidiary unless the articles of incorporation so require.

(1974, c. 286, § 6.1-32.4; 2010, c. 794.)